ZENFINEX Broker Review by WikiFX

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Wikifx is a platform for searching worldwide company financial information. Its primary duty is to give the included foreign exchange trading organizations with basic information searching, regulatory license seeking, credit assessment, platform identification, and other services.

Wikifx has created a big data solution that unifies data gathering, data screening, data aggregation, data modeling, and data productization using public data from government agencies, sophisticated sniffer systems, and scientific computer algorithms. Wikifx may then assess the supervision and risk levels of the associated organizations across several dimensions and give matching security solutions to individual users, corporate users, and government agencies.

WikiFX, on the other hand, lists over 37,000 brokers, both legal and unregistered. As a result, WikiFX users may readily assess a broker's status. WikiFX is actively working with 30 financial authorities as part of its objective to assist traders with concerns with their brokers. As a result, many instances submitted to WikiFX have been settled, while others are on their way to settlement.

Visit the WikiFX Right Protection Center to discover how typical situations have been settled.

Based on the information acquired by WikiFX, we will examine Zenfinex, one of the brokers who has been consistent in their treatment of their investors.

What exactly is Zenfinex？

This study looks at Zenfinex, a forex, metals, commodities, and indices brokerage situated in London. The broker has a lot to offer, including ultra-low spreads, social trading, and MT4 analytical tools. To assist you determine whether to register a live account with Zenfinex, we break down the MT4 platform, its product selection, and more.

Zenfinex Details

Zenfinex is a well-known brokerage with its headquarters in Mayfair, London. Nick Cooke established the FCA-regulated corporation in 2017. The clientele has expanded significantly, and it currently includes people from Europe, Asia, Australia, South America, and Africa.

The objective of the FX and CFD provider is to be a brokerage for traders, by traders—“We want to create an ideal trading environment that gives traders the greatest chance to win.”

Zenfinex Regulation

Zenfinex Limited has an FCA license, and Zenfinex Global is registered with the SVGFSA. The Financial Conduct Authority is usually considered as one of the tougher financial regulators. This is a positive indication that they are devoted to safeguarding customer funds and not manipulating market pricing.

Account segregation is another aspect. This implies that Zenfinex's operational capital is maintained separate from customer accounts. External and internal auditors assess and monitor activities on a regular basis. Client monies are additionally safeguarded by the FSCS as an FCA-regulated business. This safeguards capital up to £85,000.

Licenses:

Zenfinex Market Instruments

A wide range of instruments are offered by Zenfinex:

• Forex: 50+ Currency Pairs

• Metals: Gold, Silver, Palladium, and Platinum

• Commodities: Brent and WTI oil

• Indices: Major global indices, including the FTSE 100 and S&P 500

It is worth mentioning that there aren't as many instruments to trade with as there are with large rivals.

Commissions and Spreads

Zenfinex charges modest trading costs, which vary depending on the account. On the regular account, all fees are included into the spreads, so there are no additional commission expenses. The Pro option provides attractive spreads with a fee of $8/€7/£6 each lot. Finally, VIP has competitive spreads and charges a fee of $6/€5/£4.5 every lot.

Typical spreads across major FX pairs:

• EUR/USD – Standard: 1.1, Pro: 0.1

• GBP/USD – Standard: 1.3, Pro: 0.3

• USD/CHF – Standard: 1.1, Pro: 0.4

• USD/JPY – Standard: 1.1, Pro: 0.2

Typical spreads across indices:

• FTSE 100 – 2.0 points

• Dow Jones – 2.5 points

• S&P – 0.6 points

Zenfinex Leverage

Leverage is limited to 1:30 as an FCA-regulated brokerage. Rates vary per account, and the maximum leverage outside of Europe is 1:400.

• Mini – Forex and CFD leverage up to 1:30

• Standard – Forex and CFD leverage up to 1:30

• Pro – Forex and CFD leverage up to 1:100

Deposits & Withdrawals

On the Zenfinex website, you may find a variety of payment options. There are no deposit fees, and the minimum payment is $50.

Deposits can be made via the following options:

• Bank wire transfer (SWIFT, CHAPS, BACS, SEPA)

• Mastercard

• Neteller

• Skrill

• Visa

• ACH

Withdrawals are possible using the myZen customer interface. Debit and credit card transactions are free, however bank transfers and wire transfers may incur a charge. Withdrawal times vary, however requests are often completed within 1-2 days. It may take several days for funds to be returned to your bank account, and up to five days for overseas transactions. The following are the withdrawal options:

• Bank wires

• Credit or debit card

• SEPA (EU accounts)

• BACS (GBP denominated account)

Zenfinex on WikiFX

Based on the information provided above, which is genuine and truthful, Zenfinex has a high rating on the WikiFX App. The credibility of a broker has a significant influence on the WikiFX platform. Aside from a broker's regulation.

The Zenfinex headquarters are at One Mayfair Place, Mayfair, London, W1J 8AJ, United Kingdom. The following sections will also be included in the scoring:

Check out Zenfinex dealer page on WikiFX to know more.

License Index: The WikiFX Corporate Consultant and the Global Eye System conduct a systematic review of the complete level of the broker's business using the Business Compliance Verification Model, the Business Sustainability Assessment Model, and the Business Lifecycle Verification Model.

Business Index: The WikiFX Corporate Consultant and the Global Eye System conduct a systematic assessment of the complete level of the broker's business using the Business Compliance Verification Model, the Business Sustainability Assessment Model, and the Business Lifecycle Verification Model.

Risk Management index: A systematic review of real-time monitoring of over 40 indicators by the WikiFX risk management team and the WikiFX cloud system, including the broker's command execution index, client capital static index, worldwide public opinion index, liquidity index, and credit index.

Software Index: WikiFX data engineers and test engineers conducted a thorough examination of the dynamic tracking test and technology of more than 20 indicators, including software authenticity and security, stability, and order execution speed.

Regulatory Index: The WikiFX compliance and audit team quantifies the degree of broker regulation using regulatory grading standards, regulatory real values, regulatory utility models, and regulatory abnormality prediction models.

WikiFX, on the other hand, says that after reviewing their management status, this is one of the top forex brokers to invest in. Complaints may also have an effect on the score. However, this broker has received no complaints from its traders worldwide. WikiFX usually advises you not to take advantage of trading chances from unregulated brokers too fast, since this is one of their methods of attracting new investors and scamming them. Use the WikiFX app wisely and fully exploit its capabilities.

Management of Risk

WikiFX's database is sourced from official regulatory bodies such as the FCA, ASIC, and others. The published information is also fair, objective, and factual. WikiFX does not charge public relations fees, advertising costs, ranking fees, data cleaning fees, or other irrational expenses. WikiFX will do everything possible to keep the database consistent and synchronized with authoritative data sources such as regulatory bodies, but cannot promise that the data will always be up to date.

Because of the complexities of the forex sector, some brokers are granted legal licenses by fraudulent regulating agencies. If you believe that the data provided by WikiFX is incorrect, please contact us by clicking 'Complaints' and 'Correction'. We will check right away and report back.

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